Car Insurance Policies Explained

I was in a car accident over two years ago. Can someone w / experience help me find this out?

I was at work driving a medical transport company when I was hit broadside by an uninsured driver who ran a stop sign. My lawyer said that when it later assigned me as the right not to be payable through the other driver's insurance for the company I worked for the insurance would cover it w / their uninsured / underinsured portion of their insurance policy. He explained me that we would have to go to arbitration to settle on an amount. Does anyone have an idea what% age of the original amount the court awarded I would get? Also, I have to go to a deposition later this month by insurance company lawyers. About how much longer I have to wait for them to conclude this matter? I lived in NJ at the time if there is any influence whatsoever to answer that.

I'm surprised your employees compensation did not apply because you were on the job – unless your employer has not made the W / C coverage. In this case your employer's uninsured motorist coverage if the driver was uninsured, apply. A ruling against the driver does not automatically mean you get the amount of this ruling by your employer's uninsured motorist policy. Most such policies have an arbitration clause in contract language, which means you do not can sue the insurer if you can not agree on a settlement and believe that if you can not agree, it must go through arbitration. In this case you and your lawyer and insurance company lawyer split the cost of arbitrator (usually a judge or a professional arbitrator) to listen to / read the arguments to both sides before he / she issues a decision. Also, the settlement is constrained by the limit of coverage to the uninsured motorist coverage – often $ 100,000, although it could be more or less. So bottom line is that the conviction against at-fault driver has no influence on your settlement with the insurer. When the insurer pays the balance due to you and your lawyer will go after AT-fault driver to collect their payment, which is limited to what the cited against him were. The likelihood is that they will never see a dime of it. If the driver was insured, it is doubtful he or she has no assets to pay judgments or subrogation claims. New Jersey has some really strange insurance codes, including taxpayer paid insurance (JUA), which could complicate things even more. By the way, since you have been too recently invited to give a deposition that means that you are still in "discovery" process and a long way from getting down to a decision of the arbitrators.

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